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In basic terms none whatsoever. Any income derived from the property would be subject to UK Income Tax (IT) and any gain made on disposal, unless it were your sole or main domestic residence, would be liable to Capital Gains Tax (CGT). Under the Double Taxation Treaty between the UK and the USA, and,indeed, many individual States within the Union too, any IT or CGT paid in the UK would be available as a tax credit against any US tax liability on the same income or capital gains stream. You would also have to pay Stamp Duty Land Tax (STLT) or its Scottish equivalent on purchase depending on the consideration given on acquisition. You need to notify HMRC of any disposal within 30 days of sale. As a non domicile Inheritance Tax (IHT) would not be levied on death.
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